LONDON/NEW YORK (Reuters) – Another month of slower factory activity in China and a sharp decline in a closely-watched gauge of U.S. manufacturing on Thursday added to concern about the state of the global economy.
Surveys also showed business activity across the 18-country euro zone slowed this month, confounding expectations of an acceleration. The data weighed on global stock prices.
NEW YORK, Feb 11 (Reuters) – Fitch on Tuesday became the
third credit rating agency in a week to downgrade Puerto Rico to
junk, citing worries about the cash-strapped U.S. territory’s
weak economy and reduced ability to finance itself in capital
The move was not a surprise coming as it did after last
week’s downgrades by Standard & Poor’s and Moody’s Investors
Service left the U.S. territory struggling to avoid default.
NEW YORK, Feb 7 (Reuters) – Moody’s on Friday cut Puerto
Rico’s credit rating to junk status, citing concerns about the
cash-strapped U.S. territory’s weak growth and ability to access
The agency, which placed Puerto Rico’s rating on notice for
a downgrade late last year, said it now rates the commonwealth’s
general obligation bonds at Ba2, two notches below investment
NEW YORK, Feb 6 (Reuters) – The euro rose against the dollar
on Thursday after the European Central Bank gave no sign of an
imminent rate cut and stocks on Wall Street had their best day
this year as strong jobless data boosted confidence in the
Relative calm in vulnerable emerging markets such as Turkey
and South Africa also supported riskier assets and drew
investors away from safe-haven U.S. and German government bonds.
Major U.S. and European stock indexes rose more than 1 percent,
as did a measure of world stock markets..
LONDON/NEW YORK (Reuters) – The euro rose against the dollar on Thursday after the European Central Bank gave no sign of an imminent interest rate cut while better-than-expected U.S. unemployment data helped lift major world stock prices.
Relative calm in vulnerable emerging markets such as Turkey and South Africa also supported riskier assets and drew investors away from safe-haven U.S. and German government bonds.
LONDON/NEW YORK, Feb 3 (Reuters) – Slower growth in the
Chinese and U.S. factory sectors raised worries about global
growth on Monday, even though European manufacturers enjoyed a
solid start to the year.
Data showed growth in China’s manufacturing sector slowed to
a six-month low, while its service sector grew at its slowest
pace in five years.
LONDON/NEW YORK (Reuters) – European manufacturers enjoyed a solid start to the year as order books swelled, but slower growth in the Chinese and U.S. goods-producing sectors raised some worries about global growth.
Euro zone factories had their best month since mid-2011 and increased jobs for the first time in two years – a welcome sign for a region where unemployment remained at record highs.
LONDON/NEW YORK, Jan 28 (Reuters) – A sell-off on emerging
markets is likely to flush out many of the remaining carry trade
investors who went there in search of higher returns, and this
shift should boost more liquid currencies such as the dollar,
yen and Swiss franc.
Some investors fear the U.S. Federal Reserve may slow the
flood of money it has pumped into markets more sharply than
expected. This, along with the likelihood that other major
central banks such as the Bank of England will also tighten
policy as developed economies recover, may spell an end to the
ultra-cheap cash used to fund emerging market investments.
LONDON/NEW YORK (Reuters) – China’s vast manufacturing industry shrank for the first time in six months and U.S. factory growth slowed a bit this month, but Europe’s private sector got the new year off to a strong start, surveys on Thursday showed.
The mixed results suggested global growth would remain uneven in early 2014, particularly as China’s economy – the world’s second largest – settles into a slower rate of growth.
MUNICH/LONDON (Reuters) – Formula One boss Bernie Ecclestone has been ordered to stand trial on bribery charges in Munich over the sale of a stake in the motor racing business, forcing him to loosen his long grip on the sport.
Ecclestone, 83, was charged last July with bribing former German banker Gerhard Gribkowsky to smooth the sale of a stake in Formula One to private equity firm CVC eight years ago.